In May, 2016, following the relocation of the Springfield Falcons to Tuscon, Arizona, after the team was sold to the Arizona Coyotes, the AHL's Portland Pirates were sold to a group of outside buyers to relocate the franchise to Springfield for the 2016-17 season.

The new ownership was comprised of local business interests seeking to keep hockey in Springfield, and included Paul Picknelly, president of Monarch Place - Springfield's tallest skyscraper - and member of the family owning Peter Pan Bus Lines, as well as several local hotel owners.The Florida Panthers renewed its affiliation with the relocated franchise.